Citigroup is looking to offload more than a half-billion in private equity co-investments made with CVC Capital Partners.

The $570 million in CVC investments are among $2 billion in private equity holdings Citi is seeking to unwind. They include the $250 million Citi has invested with CVC's Asia funds, €210 million of co-investments in European companies made with CVC, and €15 million in CVC's European fund, Bloomberg News reports.

CVC was founded in 1981 by Citi as its European private equity business, and spun-off from the bank in 1993 through a management buyout. But ties between the two firms have remained close.

Citi is in the process of liquidating some $421 billion in non-core assets after receiving $45 billion in government bailout funds. Last week, it sold some $4 billion in buyout funds to Lexington Partners and handed the management of those funds over to StepStone Group.

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We are accustomed to splitting trading into technical and fundamental buckets. Both involve crunching data; one set includes market fundamentals and the other pure price data. Alternative data is a third bucket that is gaining traction.